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DC Forecasts is an award-winning global crypto news website

From the latest news about bitcoin to rumours about decentralized applications, smart contracts, the Internet of finance, blockchain and the next gen web, we combine the best news, prices, analyses, breakthroughs and advice with emphasis on our expert opinion and experienced commentary from members of the prestigious digital currency community.

Bitcoin Breaks $3,600, Is February Off To A Good Start?

After the withdrawal of the Chicago Board Options Exchange, as we can see in our bitcoin news today, the price of Bitcoin increased by nearly 2% reaching $3,656.

The lack of some major price movement after an event such as the CBOE withdrawal demonstrated a low-level trading activity and therefore traders expect to see another wave of high volatility in the Bitcoin price and they are even expecting it to again increase in the following days.

Since the start of January, BTC’s price remained stable in a low range between $3,400 to $4,000 and had trouble breaking out of the key resistance point but didn’t fall below the crucial support level either.

However, the lower highs of Bitcoin recorded over the past few weeks show that there is low momentum for the major cryptocurrency. BTC’s price has a tendency to express volatility after a period of long stability and that’s why traders expect for the price to demonstrate wild price movements with the start of February.

After a correction or when a bear market ends, Bitcoin has a history of taking a long time to recover and even reach a new all-time high. In 2017 the bull run was boosted by retail traders and investors that got covered by mainstream media which led for the number one cryptocurrency to spike to $19,000.

Investors such as Vinny Lingham suggested that the crypto market could need a little longer time to recover and rebound to all-time high levels. Ethereum’s co-creator Charles Hoskinson pointed out that the crypto market might need another 11 years to fully recover:

‘’It might take 11 years for the crypto industry to recover back to where we were in 2017, but we will be dramatically different ecosystem at that point. We will have millions, even billions of users.’’

CME Futures Gaps Show Bitcoin Could Be Headed To $18,000 (Or Higher)

The Bitcoin price is still a hot topic re-shared by many best cryptocurrency news sites. However, what's interesting in the latest news is a hint by CME Futures gaps which shows that if all goes well, Bitcoin is headed to $18,000 or higher.
Even though most of the analysts first want to see BTC at the $9,000 or $10,000 price targets, one trader believed that BTC may be heading higher - to price points which have left gaps in the CME Bitcoin Futures charts that yet need to be filled.
After going parabolic in the recent weeks, Bitcoin has corrected to a level below $8,000 and further dropped down to $7,500. Currently, the price action shows that BTC is increasing and colliding with the hints and predictions from CME Futures gaps.
Ever since the start of April, Bitcoin has been the main talk of the finance and tech industries - and a hot topic in the latest cryptocurrency news. It was also the first-ever cryptocurrency that has bounced back from bear market lows and captured the attention of the market and media once again.
So, is a new parabolic move coming in for Bitcoin?
The CME Futures gaps show that this is entirely possible, mostly because of Bitcoin's move in late December 2017 which left two unfilled gaps on CME Group's Bitcoin Futures chart. These two gaps, according to some altcoin news analysts, could mean that Bitcoin is targeting $17,700 and $18,500 - which are two price levels without candle bodies as can be seen in the chart shared by the self-proclaimed “shitcoin trend trader,” Rampage.
https://twitter.com/Thrillmex/status/1130910351757852674
The CME Futures gaps show that certain filling is needed. Speaking of, in the financial market, "filling the gap" is basically a process in which an asset returns to its previous price levels where a void in the chart has formed - due to the price of the asset which is rising or declining quickly while the trading is offline. When the trading resumes, the price of the asset is significantly lower or higher than it was at close - thereby leaving a gap.
This Bitcoin gap is a major topic right now and could hint on something bigger than many expect.

Bitcoin’s Price Goes To $8K Again, Bullish Indicators Are Returning

Bitcoin’s price goes to $8K price level again and continues to follow a steady ascending triangle pattern. The altcoin news today will give you some more detail on the price analysis of the number one cryptocurrency.
The Bulls managed to go past the $7,500 price level yesterday and will now focus on the psychological $8K level. On the daily BTC/USD charts we can see that the ascending triangle is continuously forming since the asset made a strong recovery off the uptrending pattern yesterday. Currently, the $8,000 level seems to be making slight friction in the uptrend as selling pressure from the short-term traders is reaching the market.
Bearish signals on the MACD indicators are seemingly worsening since the analysis made a day ago despite the price surge in Bitcoin by 5.24% in the last 24 hours. The selling volume is also growing and the 12-MA has yet to show signs of converging above the 26-MA point. We should also consider that the MACD is a lagging indicator so the signals can often trail behind the current price activity.
If the bulls come close to the $8K price point, we could expect a bullish convergence to appear during the early hours of the day. But if BTC ends the day below the said price point, we could see another bearish breakout which will take Bitcoin’s price below the uptrending support near the $7,600 mark. Bitcoin's price goes to $8K level strongly despite the insignificant bearish sentiment.
As noted in the latest cryptocurrency news, the RSI indicator shows that the sentiment remains bearish as the momentum shows a slight decline along the support line. From this, we can all see that the buying momentum is weak and could result in a reversal trend unless new support comes. On the 4-hour charts, the BTC/USD pair shows a totally different picture. Here it appears that the price action is breaking out of the bullish pattern.
The indicators also track the price action closely and will give the traders a better idea of the bitcoin’s price movements. Over time, traders will be able to see smaller changes in momentum clearly which is why the bullish signals are appearing on the MACD and RSI. Overall, we could expect to see Bitcoin test the $8,100 level in the new few days if the momentum continues to improve.

Expected Bitcoin Drop Leads Major Crypto Assets To Drop By 7%

Expected bitcoin drop that happened over the past 24 hours has led the other major crypto assets to plunge by 7 percent. Bitcoin’s price dropped by around four percent against the US dollar and we find out more in the coming altcoin news.
The anticipated drawback of both bitcoin and all of the other major crypto assets comes after the technical analyst Josh Rager proposed that a healthy bitcoin pullback will surely come due to the coming off a massive 100 percent gain. He pointed out:

“BTC 30%+ pullback coming? Yes, eventually. If history repeats, there should be plenty of strong pullbacks on the way to next peak all-time high. There were at least nine 30%+ pullbacks from last cycle accumulation and uptrend Plenty of buying opportunities ahead, don’t let it shake you.’’

Over the night, the value of the entire crypto market dropped by around $12 billion from the previous $249 billion and reached $237 billion. In the past 30 days, the price of the number one crypto asset started climbing from $5,100 and reached $8,000 which an increase of $3,000. This is a massive monthly gain against the US dollar by 56 percent. On another occasion, bitcoin came out as a winner in the short-term gains since it corrected itself by 20-30 percent as mentioned in the latest cryptocurrency news.
The 20-30 percent correction could have meant a drop to the $6,000 price range which some technical analysts believe could happen in the previous weeks. Similarly, another crypto trader better known as ‘’Mayne’’ suggested that a drop below the $7,500 could lead the major asset to plunge below the $7,000 support level. He said:

“BTC – Need to hold $7,884 and red OB for upside target $9k+. Break below red OB I expect $7,300 and maybe lower to $6,400. ETH – USD pair needs to break and close thru $260 to get to $300. BTC pair had a nice reaction of range low if we can hold EQ and flip grey OB looks good.’’

The expected bitcoin drop from its position is considered as a healthy step for bitcoin that could strengthen the foundation for the market to start a strong upside movement soon. The founder of Morgan Creek Digital stated that the average return for bitcoin over the past years could appeal to institutions that have billions of dollars to pour in the asset.

Bitcoin To 6k: Will BTC Drop To New Monthly Lows?

As we already reported in our coming altcoin news, the pullback has begun and wiped away $14 billion on the market overnight, taking losses from almost every single coin. Many analysts think that Bitcoin to 6k is a big possibility now, after scanning the charts and looking for support zones.
Meanwhile, BTC has spent the past three days trading sideways below $8,000. Ever since its meteoric rally to $8,300, BTC has hit resistance twice and pulled back sharply twice. Aside from the Bitcoin to 6k reality, a weekend dump to $7k was quickly recovered as the charts now show.
During the morning Asian trading session, Bitcoin managed to fall 4% to an intraday low of $7,620 but later corrected more, going below $7,500. The steep decline made a lot think if Bitcoin to 6k is the next scenario in the latest cryptocurrency news. Unlike the previous minor correction when BTC dropped like a stone, this is a more gradual descent (for now) until the price of the most dominant cryptocurrency finds support.
Speaking of dominance, Bitcoin sits at 57.1% dominance which is relatively good for it, but not that good from the perspective of the latest coins featured the altcoin news which are all losing dominance on the market.
According to the crypto trader 'The Cryptomist', the drop was expected and Bitcoin to 6k is a reality if it continues:

“Forewarned this drop earlier, and secured most of this month’s profits. I expect us to drop further and test support upon 7.4k region. 1D Rsi still needs to drop. If this support breaks, 6.8k is next regional support,” he tweeted.

https://twitter.com/TheCryptomist/status/1131335063902273542
If the correction continues, Bitcoin to 6k could be the next thing we see this week. However, many analysts are also eyeing the $6,400 level as major support and some predict a 30% retracement. This was the most traded price in 2018 and therefore a return to it does not seem to be too farfetched.

“Close below the 10 ema on this chart (different because futures did not open until 2017). The area circled would fill the gap, btw. And, it would tighten up the Bollinger Bands. See what happens over the next few days or next week,” the Twitter analyst CryptoFibonacci tweeted.

https://twitter.com/CryptoFib/status/1131377214593949697
The dip today pushed the market cap below $240 billion, and the altcoins are getting punished as usual. Many best cryptocurrency news sites predict that it will extend in the next day or two.